₦airaland Forum

Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,316,733 members, 5,105,604 topics. Date: Tuesday, 20 August 2019 at 11:16 AM

FG Frustrating Cbn’s Efforts To Spur Economic Growth - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Frustrating Cbn’s Efforts To Spur Economic Growth (6451 Views)

Arewa Youths React To Aisha Claim That Two Powerful People Are Frustrating Buhar / Ambode Weighs Options As Efforts To Secure Tinubu’s Support Fail / Fuel Scarcity: NNPC Intensifies Efforts To Flood Market With Products (2) (3) (4)

(1) (2) (Reply) (Go Down)

FG Frustrating Cbn’s Efforts To Spur Economic Growth by dipoolowoo: 2:18am On Aug 09
By Dipo Olowookere

Federal government has been identified as the major cause of the slow economic growth rate in Nigeria despite emerging out of recession in 2017.

According to analysts at United Capital Research, the fiscal authorities are not currently moving at the same pace with the monetary authority, which is the Central Bank of Nigeria (CBN).

In a report published on Wednesday, August 7, 2019, United Capital Research noted that since coming out of recession, Nigeria, the largest economy in Africa, has continued to struggle to record an economic growth rate that is above her population growth.

It said as a result of this, there have been pressures on monetary and fiscal authorities to look for innovative ways to spur economic growth while encouraging foreign inflows (FPIs and FDIs).

“On one hand, since the re-appointment of Godwin Emefiele as the CBN governor in June 2019, the monetary authorities have become more pro-growth in its policies.

“This is buttressed by recent efforts to compel banks to lend to the private sector and discourage their massive investments in government risk-free asset.

“On the other hand, the fiscal authorities are yet to roll out a concrete plan to spur growth amid widening budgeted revenue shortfalls as well as the absence of an executive ministerial cabinet,” the report said.

It added that, “Taking a bed-eye view at the above, it could be seen that the fiscal side is currently not moving at the same wavelength with the monetary authority, bringing to question the ability of the monetary authority alone, to change the present narrative of the nation.”

“In all, we believe for this happen, the cabinet must be hurriedly formed and coordinated efforts by key economic authorities, including finance, agriculture, petroleum resources, national planning, trade and investment as well as the apex bank, must be set into motion,” the report concluded.

https://businesspost.ng/2019/08/09/fg-frustrating-cbns-efforts-to-spur-economic-growth/

5 Likes 1 Share

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by cenaman(m): 2:26am On Aug 09
Somebody will blame Buhari now.
Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by stonemasonn: 2:55am On Aug 09
cenaman:
Somebody will blame Buhari now.
who's to blame now?

40 Likes 1 Share

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by EagleNest(m): 4:03am On Aug 09
You don't give what you don't have. Nobody talks about economy anymore... It is to stay alive first.

54 Likes 4 Shares

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by helinues: 5:00am On Aug 09
Not convincing
Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Amuocha: 7:00am On Aug 09
Buhari why angry

6 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by SoftP(m): 7:01am On Aug 09
They use to say 'Nigeria has a long way to go'

But today, obviously there is no way @all.


It's most unfortunate cry

5 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Techsunny: 7:01am On Aug 09
The man in aso just starving Nigerians

7 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by yinkus6750(m): 7:02am On Aug 09
When they don't have a sound minister of finance to come up with good policies to strategies for a firm economy.
Let's see who will take over the post.

2 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Techsunny: 7:02am On Aug 09
cenaman:
Somebody will blame Buhari now.
Who's this??.

9 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Kendumazy(m): 7:03am On Aug 09
OK
Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by thisnaijaguy: 7:04am On Aug 09
Economic principles and theorems does not work on Nigeria

Nigeria can be used to research and discover new economic hypothesis.

6 Likes 1 Share

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by VivaDeAngelo(m): 7:04am On Aug 09
Your FG has an inverse or negative relationship with economic growth.

Economic growth takes a conscious effort driven by ideas and strong leadership, and usually, materializes at the long run.

But with the way we are being killed in this country, I have no choice to agree with John Maynard Keynes that "in the long run we are all dead".

So the goal now is actually to stay alive first.

19 Likes 1 Share

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Robbin7(m): 7:05am On Aug 09
Buhari has surrounded himself with praise singing sycophants in the persons of Secretary of the FG and Chief of staff.

10 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by dondavinchi(m): 7:06am On Aug 09
cenaman:
Somebody will blame Buhari now.
who do u want to blame if not d useless fool in aso rock

6 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by livebyday(m): 7:06am On Aug 09
undecided

I recall last month I was having a conversation with a friend who works in the financial sector and I told him specifically that all the growth and so called inflation rates the government spreads in the media are all false and he agreed ... I recall telling him it was only a matter of time before the bubble would burst

Surely now it is happening, blame is being spread and the charade can't be sustained

Propaganda never lasts long , the truth and reality always awakens one in a rather harsh way

We will keep praying for Nigeria

Cheers all

18 Likes 2 Shares

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Nyamiri: 7:08am On Aug 09
This is true.

Here's an example: CBN introduced the cashless policy, FIRS wants to introduce 5% tax on online transactions.

That proposed tax would kill the cashless policy and reverse it 20 years back.

Cash transactions would skyrocket and robberies would increase just because of the stupidity of the FIRS.

22 Likes 2 Shares

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by platinum131(m): 7:09am On Aug 09
Nigeria is on autopilot

11 Likes 2 Shares

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Noel1: 7:09am On Aug 09
cenaman:
Somebody will blame Buhari now.
So we should blame u?

18 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Tomide007: 7:13am On Aug 09
The minister of finance is the problem .....when adeosun was dere ,at least in her first year it was the monetary policy that was struggling to catch up with fiscal policy ,now its the other way round....

4 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by NigeriaAjoka: 7:17am On Aug 09
lipsrsealed
Buhari is an Antelope

3 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Stupidmodes: 7:17am On Aug 09
cenaman:
Somebody will blame Buhari now.
Are you just stupid or what? So whose blame is ir.? Maybe Sowore?

13 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by israelmao(m): 7:21am On Aug 09
The praisesingers and sycophants are nowhere to be found they are under the heavy heat of worsening economic conditions.

11 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by MisterGrace: 7:22am On Aug 09
grin
Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Tomide007: 7:23am On Aug 09
Stupidmodes:


Are you just stupid or what? So whose blame is ir.? Maybe Sowore?
Chill for the guy nah.. He probably does not know the meaning of fiscal policy

6 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by shadeyinka(m): 7:23am On Aug 09
How can our economy grow when we are almost 100% import dependent. It's no rocket science and yet we still feel that armchair policies will solve our problems.

The FG doesn't care a hoot about our economy: all they care about is getting immediate cash to spend even if it entails selling the future of the next generation and enslaving them to China for eternity.

10 Likes 1 Share

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by emecheboy2(m): 7:25am On Aug 09
Nyamiri:
This is true.

Here's an example: CBN introduced the cashless policy, FIRS wants to introduce 5% tax on online transactions.

That proposed tax would kill the cashless policy and reverse it 20 years back.

Cash transactions would skyrocket and robberies would increase just because of the stupidity of the FIRS.

God bless you. I was telling my friends that the rate of robbery from 2020 will be worse if they insist to their useless policies.

6 Likes 1 Share

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Nyamiri: 7:28am On Aug 09
shadeyinka:
How can our economy grow when we are almost 100% import dependent. It's no rocket science and yet we still feel that armchair policies will solve our problems.

During the other times we recorded economic growth in Nigeria, were we export dependent? The ports are not helping exporters, police and army bribe roadblocks hinder transportation, electricity and multiple taxation kills manufacturing and you're talking about dependence on imports.

Tell me a single step government has taken to encourage exports when Buhari and his son spent the first tenure seeking medical care abroad.

Check my earlier post, I gave a live instance of what economic stupidity by the government can cause and you're talking about import dependency.

10 Likes 1 Share

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by EkunKekere: 7:29am On Aug 09
Who else is in charge of implementation of the Federal government's economic policy, other than the president? And this one will say he went to school.

cenaman:
Somebody will blame Buhari now.

4 Likes 1 Share

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Nyamiri: 7:32am On Aug 09
cenaman:
Somebody will blame Buhari now.

No, we should blame the Sultan or the Obi of Onitsha.

6 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by KidsNEXTdoor: 7:33am On Aug 09
Who doesn't know the FG is inept and useless

All they care about is the welfare of cows


While stupid zombies Who can't afford three square meals are eager to chant sai barber... Pity

2 Likes

Re: FG Frustrating Cbn’s Efforts To Spur Economic Growth by Duplik8t77(m): 7:33am On Aug 09
Seems the way the country is in shambles , gives buhari orgasm

1 Like

(1) (2) (Reply)

The Many Evils Of Governor Ikedi Ohakim / Osun Guber: 48 Parties To Contest As INEC Gives Update Preparation / President Buhari Assures On Credible Elections

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (0) (1) (2) (3) (4) (5) (6) (7) (8) (9)

Nairaland - Copyright © 2005 - 2019 Oluwaseun Osewa. All rights reserved. See How To Advertise. 77
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.